NIDHI-PRAYAS: A Milestone Grant for Hardware & Product Start-ups

The National Initiative for Developing and Harnessing Innovations (NIDHI) - Promoting and Accelerating Young and ASPiring innovators & startups (PRAYAS) is a flagship program by the Department of Science and Technology, Government of India. Designed specifically for the hardware sector, it bridges the gap between proof-of-concept and prototype development, empowering innovators to take their ideas to the market.

What is this scheme?

NIDHI-PRAYAS is a pre-incubation grant designed to support young innovators by providing financial assistance to build physical prototypes of their ideas. Unlike many grants that focus on software, PRAYAS is dedicated to 'hardware' startups, helping them navigate the high costs associated with product design, fabrication, and testing in the early stages of a venture.

Who is eligible?

• The applicant must be an individual or a startup founder with a focused product idea.
• Individuals must be Indian citizens.
• Startups must be registered in India and should not have exceeded 7 years from the date of incorporation.
• The innovation must be a physical product (Hardware), not purely software or a service.
• Applicants should be ready to dedicate themselves full-time to the project for the duration of the grant.
• The applicant must be incubated or willing to be incubated at a PRAYAS Centre (PC).

How much money?

The grant provides financial assistance up to INR 10 Lakhs per innovator for prototyping costs.

Documents needed

1. Aadhaar Card or proof of Indian citizenship
2. Company Registration Certificate (if applicable)
3. Detailed Project Report (DPR) or Business Proposal
4. Proposed Budget Breakdown for the Prototype
5. Academic qualification certificates
6. Letter of support from the Incubator (PRAYAS Centre)

How to apply (step by step)

1. Identity the nearest NIDHI-PRAYAS Centre (PC) through the official portal.
2. Prepare a detailed proposal focused on the hardware innovation and prototype roadmap.
3. Submit the application during the specific call for proposals issued by the PRAYAS Centre.
4. Attend the pitch session or interview conducted by the PRAYAS Monitoring Committee (PMC).
5. Upon selection, sign the agreement and begin the incubation process.
6. Receive funds in installments based on project milestones achieved.

Important dates

Conclusion

The NIDHI-PRAYAS grant is a game-changer for Indian product innovators who often struggle with the 'valley of death' in hardware development. By providing both funding and access to lab facilities, the scheme ensures that viable physical innovations reach the commercialization stage, boosting India's manufacturing and electronics ecosystem.